Income from real estate business
Dear Members,
Whether Income from real estate business treated as Business Income or Capital Gains
Replies (2)
IN REAL ESTATES flats are maintained as STOCK IN TRADE .
therefore its is a business income.
If the income is on sale of assets it has to be trated as Income from Business or Profession, But if Income is on account of rent which are in Stock-in-Trade, then such rental income has to be treated under Income from House Property.(CASE LAW: Azimganj Estate (P) Ltd vs CIT(2013))
Recent Topics :
- Bill-to-ship-to material at client site, project c
- Export previously now to be considered domestic sa
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
Related Topics :
CAclubindia
